Oil prices extended losses on Thursday, erasing all gains attributed to the Iran conflict, as tankers stranded near the Strait of Hormuz resumed transit following an initial agreement aimed at concluding the U.S.-Israeli war with Iran, which alleviated concerns regarding potential supply disruptions. U.S. Energy Secretary Chris Wright stated on Wednesday that oil flows through Read More
Oil prices continued to decrease on Wednesday, remaining close to the four-month lows reached in the prior session, as indications surfaced that additional oil tankers, which have been stranded in the Gulf since the onset of the Iran conflict, are getting ready to transit through the Strait of Hormuz. Brent crude futures declined by 37 Read More
Oil prices remained stable on Tuesday following a decline in the prior session, as investors concentrated on indications of a sustained recovery in crude shipments via the Strait of Hormuz, a critical waterway responsible for transporting 20% of global oil exports. Brent crude futures increased by 24 cents, or 0.38%, reaching $78.15 per barrel, whereas Read More
Oil prices experienced an uptick on Monday as shipping activity through the Strait of Hormuz faced delays, coinciding with the initial discussions between U.S. and Iranian officials under an interim peace agreement, which encountered some difficulties. Brent crude futures increased by 54 cents, or 0.67%, reaching $81.11 a barrel by 0030, following a peak of Read More
In a welcome relief for global economies, oil prices continued their downward trend on Friday and are on track for a significant weekly loss as shipping through the Strait of Hormuz gradually normalises following the US-Iran peace agreement. Brent crude has declined to approximately $79 per barrel, reflecting a decrease of over 9% for the Read More
Oil prices experienced a decline in early trading on Thursday following the signing of an interim agreement between the U.S. and Iran. This agreement is set to conclude the Iran war, facilitate the reopening of the Strait of Hormuz, and lift U.S. sanctions on Tehran’s oil, thereby addressing the most significant energy supply disruption in Read More
Oil prices experienced a modest increase in early trading on Wednesday, recovering some of the losses incurred in the previous session, as investors evaluated the potential conclusion of the conflict in Iran and the possibility of the Strait of Hormuz reopening. Brent crude futures increased by 47 cents, representing a 0.6% rise, reaching $79.43 a Read More
Oil prices experienced a rebound on Tuesday, driven by concerns regarding the insufficient details in a preliminary agreement aimed at concluding the conflict between the U.S. and Iran. Additionally, there is a growing awareness that the resumption of supply through the crucial Strait of Hormuz may require more time than previously anticipated. Brent crude futures Read More
Oil prices fell to their lowest point since March on Monday following statements from U.S. President Donald Trump and Iran’s deputy foreign minister, indicating that an initial agreement had been made to conclude the conflict and resume shipping through the Strait of Hormuz. Brent crude futures decreased by $3.58, representing a 4.10% drop, settling at Read More
Oil prices fell to reach a two-month low on Friday following U.S. President Donald Trump’s decision to abandon plans for military strikes on Iran. This development alleviated worries about a potential escalation in tensions, which had intensified earlier in the week after both parties engaged in attacks. Brent crude futures decreased by $1.21, representing a Read More
